Yes the moderators are volunteers,
We have this gold system that is really dumb, technically we get paid in 'fake money' and how this website, (i believe) makes money is you buy gold to purchase outfits for your avatar. (So you don't get a real product)
The people who make these outfits are volunteers, the people who patrol the forums are volunteers, and the admin is a volunteer, yet everything we do makes money for noez's.
We did have one person named Alice who actually worked for Noez, but a few months ago they fired her. No one on the site has contact with noez, so you can imagine how crazy it is. There are so many glitches.
Pretty much they have no staff on the site, yet they are making lots of money, technically off of children since most of the volunteers are around 14.
The bad thing that really gets me about OZ, is that we have something like manga-updates, where we have a manga/anime database, a few months ago they installed this new feature where you can put links to read chapters of a manga. (Also this give no credit whatsoever to the translation group)
At first i saw nothing wrong with it, but then i got messages from escalators who were upset, they were saying that they did not want a link to there work on OZ, since they did not support NOEZ that owns mangafox.
I then agreed with them, so i started to delete the links (Since i have complete control over the Database).
After maybe a week, NOEZ contacted alice and said i had no right to do that, since they were links to the chapters and i was wrong to delete them.
I also heard of people on the site who bought 'gold' from there credit cards, are they were only suppose to cost 2$ but it would cost 10$ without there consent.
Aditionally there's a blog post from their admin here
To preserve the content in the link above I'll put it's contents in a spoiler tag here.